Zenas BioPharma (NASDAQ:ZBIO) Trading Up 7.6% on Insider Buying Activity

Shares of Zenas BioPharma, Inc. (NASDAQ:ZBIO) traded up 7.6% during trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $22.12 and last traded at $21.9120. 666,115 shares were traded during trading, a decline of 34% from the average session volume of 1,006,415 shares. The stock had previously closed at $20.36.

Specifically, Director Fairmount Funds Management Llc purchased 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was bought at an average cost of $20.00 per share, for a total transaction of $3,000,000.00. Following the purchase, the director directly owned 2,359,025 shares in the company, valued at $47,180,500. The trade was a 6.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZBIO shares. Morgan Stanley upped their price objective on shares of Zenas BioPharma from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 17th. Wall Street Zen cut Zenas BioPharma from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 21st. Citigroup reduced their price objective on Zenas BioPharma from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zenas BioPharma in a research note on Friday, March 27th. Finally, Zacks Research cut shares of Zenas BioPharma from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.14.

Zenas BioPharma Price Performance

The firm has a fifty day moving average of $23.12 and a 200 day moving average of $27.26. The company has a market capitalization of $1.24 billion, a P/E ratio of -2.81 and a beta of -1.94. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 0.32.

Zenas BioPharma (NASDAQ:ZBIO) last released its quarterly earnings results on Monday, March 16th. The company reported ($4.54) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($3.32).

Institutional Investors Weigh In On Zenas BioPharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZBIO. Invesco Ltd. boosted its position in shares of Zenas BioPharma by 28.9% during the fourth quarter. Invesco Ltd. now owns 187,968 shares of the company’s stock worth $6,825,000 after acquiring an additional 42,172 shares during the last quarter. XTX Topco Ltd bought a new stake in Zenas BioPharma in the 4th quarter valued at $442,000. VARCOV Co. bought a new stake in Zenas BioPharma in the 4th quarter valued at $266,000. Voloridge Investment Management LLC purchased a new stake in Zenas BioPharma in the 4th quarter worth $4,845,000. Finally, Virtus Investment Advisers LLC bought a new position in shares of Zenas BioPharma during the 4th quarter valued at about $238,000.

Zenas BioPharma Company Profile

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company’s proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.